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cliff but there is news on hillary clinton? >> doctors have discovered a blood clot stemming from a concussion she sustained several weeks ago they are monitoring the medication they are over the next couple of days. >> i guess she won't be testifying in front of any senate committees. rich, live for us. we'll check in with you at 9:00 p.m. and update you on behind the scene negotiations. we're going to update how asian markets are trading with no deal here in the united states. so until 9:00 p.m. have a great day. you'd you would think that you'd want to havewa assets available within a certain distance of, bt places. but there is no sign anywhere that we would ask any help fromo neighboring countries, anyone else in the vicinity to help us at thattime. have puthese people in this situation ,-com,-com ma they have failed to connect the dots and failed to anticipate what was happening and once th attack began, there was something they could do immediately, but have they responded immediately, might have prented the deatthat occ
cliff but there is news on hillary clinton? >> doctors have discovered a blood clot stemming from a concussion she sustained several weeks ago they are monitoring the medication they are over the next couple of days. >> i guess she won't be testifying in front of any senate committees. rich, live for us. we'll check in with you at 9:00 p.m. and update you on behind the scene negotiations. we're going to update how asian markets are trading with no deal here in the united states. so...
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the big issue today, the fiscal cliff. and you may be asking yourself, why is this so importat? what is so cataclysmic about our nation's finances that we need to implement these monster tax increases and make draconian spending cuts. well, if you want to understand the government and its problems, take a lookat these numbers. let's start with tax revenue. these are the nation's tax revenues. what you have your is just over 2 trillion in income. that's all it is really. and look at these euros. a very big number. the spending in the federal budget. you will notice to these numbers bigger than that. not good. the deficit, like how much debt or adding. over a trillion. just when you're. federal government runnng a a tab of a rillion. we talk about this number of the me. let's get this zero's again. a very big number. tough to get your arms around these numbers. when you see it on a piece of paper it's easier. i thought it would be even easier ifwe thought about one american household. what if each of those numbers translate it into one family. if you ran the household like the fed
the big issue today, the fiscal cliff. and you may be asking yourself, why is this so importat? what is so cataclysmic about our nation's finances that we need to implement these monster tax increases and make draconian spending cuts. well, if you want to understand the government and its problems, take a lookat these numbers. let's start with tax revenue. these are the nation's tax revenues. what you have your is just over 2 trillion in income. that's all it is really. and look at these euros....
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Dec 29, 2012
12/12
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. >> suddenly fiscal cliff is looking steeper and closer. noted economist arthur lapert joins us to tell us how this game >> is very sad, but this legislation is what is said. the legislation has the piration of the tax cuts after 10 years. if nothing is done, all tax rates go up. what you see happening allowing some of them to go, all of them to go up, it is a very difficult situation for speaker boehner and the house republicans to be in. i feel very sorry for them. they are caught in a trap. lou: a trap, a conundrum that was perfectly visible. it was transparent where we would be. and the republicans, the republican leadership, the republican national committee. all of the so-called wise men and women of the party did absolutely nothing to prepare for this strategic moment, and they are coming up woefully short. >> that's very true. you knew it happened 10 years ago when there was a provision that this was going to happen. here it is. i think the key for the republicans from my standpoint is to get this over with as quickly as possible. t
. >> suddenly fiscal cliff is looking steeper and closer. noted economist arthur lapert joins us to tell us how this game >> is very sad, but this legislation is what is said. the legislation has the piration of the tax cuts after 10 years. if nothing is done, all tax rates go up. what you see happening allowing some of them to go, all of them to go up, it is a very difficult situation for speaker boehner and the house republicans to be in. i feel very sorry for them. they are...
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Dec 30, 2012
12/12
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cliff most of the attention is about taxes going up and that being the so called fiscal cliff but the other side of that cliff is that the massive spending cuts automatic cuts are kicking in at the beginning of next year. largely targeted at the pentagon. and what is interesting is all of this deal making we are talking about on capitol hill would really just focus on unemployment benefits and tax side of the cliff as i mentioned and most of deals it appears would not shut off the so called sequester that would hit the pentagon. on "fox news sunday" senator lindsey graham told chris wallace he got a call from the defense secretary suggesting these cuts are coming. lake a listen. >> i was called by leon panetta at 7:30 during dinner. >> secretary of defense. >> this is the failure of the supercommittee to find $1.2 trillion in cuts. half of the 1.2 falls on defense who already cut. he says if we do this we will shoot the defense department in the head and send out 800,000 layoff notices the beginning of the year. he is worried to death if we don't fix sequestration we will destroy the
cliff most of the attention is about taxes going up and that being the so called fiscal cliff but the other side of that cliff is that the massive spending cuts automatic cuts are kicking in at the beginning of next year. largely targeted at the pentagon. and what is interesting is all of this deal making we are talking about on capitol hill would really just focus on unemployment benefits and tax side of the cliff as i mentioned and most of deals it appears would not shut off the so called...
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Dec 26, 2012
12/12
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my next guest that with the president about the budget cuts that will hit if we go over the fiscal cliff. we are talking about sequestration. burial blakely -- great to see you. >> i think the president has stated very clearly that the cuts will not happen. we have a need for the congress to join him back here and washington and get a deal done. dagen: are you worried that there is so much attention being paid to the automatic tax increases and not dealing with the sequestration that would hit your industry hard? >> you have it exactly right. the slashing cuts in federal programs will begin to affect everyone and affect us immediately. certainly, the defense industry is very worried. the readiness of our troops, the equipment they depend on, the technology that is the united states edged, that is what is really in peril here. we are all worried about that. we are worried about the layoffs that will come in the defense industry. dagen: have any of these cops already started to happen? what have you seen in the activities of these big companies? >> they have already had to start making pla
my next guest that with the president about the budget cuts that will hit if we go over the fiscal cliff. we are talking about sequestration. burial blakely -- great to see you. >> i think the president has stated very clearly that the cuts will not happen. we have a need for the congress to join him back here and washington and get a deal done. dagen: are you worried that there is so much attention being paid to the automatic tax increases and not dealing with the sequestration that...
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Dec 29, 2012
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to government spending. >> now, you mentioned two years ago shall the spending cuts, the fiscal cliff, it was designed to force washington to deal with the nation's long-term debt problem. and instead, here we are, a final hour, who knows what will happen next and i want to specifically ask you about the lack of progress on those structural issues like entitlement spending because even the plan c isn't touching that. so that means regardless of what happens before january 1st, investors will then be dealing with a certain degree of political risk long-term after the fiscal cliff deadline has passed. so, how will that affect the market on the economy in terms of spending cuts? >> well, my fear is that the compromise will be that we get the tax increases and they postpone the spending cuts and that's the ultimate objective. >> yes he. >> and you know, that is something that the economy will recover from and something will adjust to. remember, about half of the increased taxes on the average individual come from simply the roll off of that fica tax break we received the last two years, s
to government spending. >> now, you mentioned two years ago shall the spending cuts, the fiscal cliff, it was designed to force washington to deal with the nation's long-term debt problem. and instead, here we are, a final hour, who knows what will happen next and i want to specifically ask you about the lack of progress on those structural issues like entitlement spending because even the plan c isn't touching that. so that means regardless of what happens before january 1st, investors...
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Dec 31, 2012
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yes, we are all waiting to cue the confetti with hopes for a last-minute deal to avert the fiscal cliff. with sweeping tax hikes and spending cuts set to take effect at midnight, frantic negotiations are ongoing at this hour with the president teasing the prospect of a deal on at least part of the cliff just hours ago. >> it appears that an agreement to prevent this new year's tax hike is within sight, but it's not done. we we're hopeful that congress can get it done, but it's not done. >> so it's not done. in case you missed that, he said it twice, not done. reports of an emerging deal focus on a few key parameters, raising tax rates on couple it's making more than $450,000 a year, increasing the estate tax rate, and extending unemployment benefits for one year. the major sticking point new appears to be sequester spending. while the president said he would prefer a grand bargain, a certain branch of government stood in the way. >> with this congress that was obviously a little too much to hope for. one thing we can count on with respect to this congress is that if there's even one sec
yes, we are all waiting to cue the confetti with hopes for a last-minute deal to avert the fiscal cliff. with sweeping tax hikes and spending cuts set to take effect at midnight, frantic negotiations are ongoing at this hour with the president teasing the prospect of a deal on at least part of the cliff just hours ago. >> it appears that an agreement to prevent this new year's tax hike is within sight, but it's not done. we we're hopeful that congress can get it done, but it's not done....
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Dec 31, 2012
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keep in mind the threat of tax hikes going up is only one part of this so-called fiscal cliff everybody has been talking about. what we also have facing us starting tomorrow are aught maddic spending cuts that are scheduled to go into effect. and keep in mind that some of these spending cuts that congress has said will automatically go into effect will have an impact on our defense department and head start. so there are some programs that are scheduled to be cut that we are using an ax instead of a scalpel. it may not always be the smartest cuts. so that's a piece of business that still has to be taken care of. i want to make clear that any agreement we have to deal with these automatic spending cuts set for next month. those have to be balanced. my principle has always been let's do things a balanced responsible way. that means revenues have to be part of the equation in turning overt sequester and automatic spending cuts as well as spending cuts. the same is true for any future deficit agreement. obviously we'll have to do more to reduce our debt and deficit, i'm willing to do more,
keep in mind the threat of tax hikes going up is only one part of this so-called fiscal cliff everybody has been talking about. what we also have facing us starting tomorrow are aught maddic spending cuts that are scheduled to go into effect. and keep in mind that some of these spending cuts that congress has said will automatically go into effect will have an impact on our defense department and head start. so there are some programs that are scheduled to be cut that we are using an ax instead...
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Dec 26, 2012
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fiscal cliff negotiations with congress. talks fell apart before christmas. the deadline now is just days away and there is no deal in sight to avoid the tax hikes and spending cuts set to go into effect january 1st. our juan williams is a fox news political analyst and he joins us today and very quickly, juan, merry christmas to you. >> merry christmas, kelly. kelly: this is daunting task facing congress to avert the so-called fiscal cliff that will set into motion more than $600 billion in drastic and draconian allic tax hikes and spending cuts. that will cause a lot of pain for all americans and does congress have enough time to act on this? >> they do. you know it will be very close and it may in fact go beyond the deadline per se although people are thinking at the moment it is possible to get something done by the end of this week. the key here, kelly, is the senate. we have been so focused on the house, speaker boehner, plan. about, plan b falling apart. now speaker boehner is pointing towards the senate and the white
fiscal cliff negotiations with congress. talks fell apart before christmas. the deadline now is just days away and there is no deal in sight to avoid the tax hikes and spending cuts set to go into effect january 1st. our juan williams is a fox news political analyst and he joins us today and very quickly, juan, merry christmas to you. >> merry christmas, kelly. kelly: this is daunting task facing congress to avert the so-called fiscal cliff that will set into motion more than $600 billion...
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Dec 24, 2012
12/12
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that is a great new year's resolution. >> there are lots of cuts if we go off the fiscal cliff. lack of unity and vision there --. gregg: talking about this in the last hour, mark. but i want to put it to you. the president campaigned. he said i want to raise rates on everybody who make over 250. and you do the math and it's been done by all kinds of economists and cbo. >> many people voted for that. gregg: comes to $800 billion mark. so suddenly the president's reelected and immediately doubles it, now i want 1.6 trillion. >> psych, sorry. we'll change rules because i won. crossing my fingers behind my back. changed the rules. gregg: go ahead, mark. how do you figure that the president, you know, said i want 800 billion. now all of sudden i want twice that much. >> the president said that refering to income taxes the now that we're facing sort of debt problem that we're facing, the president is getting serious about other types of revenue, including loopholes. loopholes many wealthy americans benefit from and middle class americans don't have advantage of benefiting from. a lot
that is a great new year's resolution. >> there are lots of cuts if we go off the fiscal cliff. lack of unity and vision there --. gregg: talking about this in the last hour, mark. but i want to put it to you. the president campaigned. he said i want to raise rates on everybody who make over 250. and you do the math and it's been done by all kinds of economists and cbo. >> many people voted for that. gregg: comes to $800 billion mark. so suddenly the president's reelected and...
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we shouldn't really call this a fiscal cliff deal. this is just the senate's bill. the senate vote 89-8 in favor the bill. it extends decade old tax cuts on income up to 400,000 for individuals, 450,000 for couples. cuts only 15 billion in spending while increasing tax revenues by $620 billion. that is a 41-1 ratio of tax increases to spending cuts. so who are the winners and losers? we'll play a little game. i will toss out some names to you, you tell me winner or loser. we'll go down the list. richard, start with you, president obama, john boehner, winner or loser? >> i think both of them are winners for different reasons. the president won. obviously showed winning an election and staying on message is a winning strategy. he got republicans to budge on this decades long notion somehow or other lifting tax rates was going to be ruin news for the economy. i think we'll see that it's not. he got a lot of other provisions clean energy, tuition credits, senator for low income people. unemployment benefits extended that were on the line. i think john boehner is actuall
we shouldn't really call this a fiscal cliff deal. this is just the senate's bill. the senate vote 89-8 in favor the bill. it extends decade old tax cuts on income up to 400,000 for individuals, 450,000 for couples. cuts only 15 billion in spending while increasing tax revenues by $620 billion. that is a 41-1 ratio of tax increases to spending cuts. so who are the winners and losers? we'll play a little game. i will toss out some names to you, you tell me winner or loser. we'll go down the...
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Dec 27, 2012
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because president obama perfectly going over the fiscal cliff to blame republicans because he can't default on the debt. he will have to compromise between now and february. second of all the baseline gets reset if the tax cuts expire. everybody will propose a tax cut in january and right now we're fighting whether to increase taxes or not. you can see possibility of a deal seen as win-win for both sides. third, if republicans don't come up with a deal, a bad deal right now, they still have the $800 billion in revenue they put on the table from limiting deductions and loopholes that they can use to buy down rates. so i think the odds are, after january 1 we will get a deal and it will be much more favorable deal to the republican party because we'll have the leverage and president obama won't. heather: simon, basically what mark's laid out there would be more of a bunge jump over the cliff instead after nosedive, what do you think about the possibility, good thing or bad? >> i think it is going to happen whether it is good or bad. hopefully in the first week to 10 days of the new year with
because president obama perfectly going over the fiscal cliff to blame republicans because he can't default on the debt. he will have to compromise between now and february. second of all the baseline gets reset if the tax cuts expire. everybody will propose a tax cut in january and right now we're fighting whether to increase taxes or not. you can see possibility of a deal seen as win-win for both sides. third, if republicans don't come up with a deal, a bad deal right now, they still have the...